Elon Musk is drowning in debt: Tesla rigidly framed his Creator

CEO and founder of Tesla and SpaceX Elon Musk needs 507 million dollars to the banks to wall street

A heavy debt became known on may 2, after Tesla decided to attract $ 2 billion, releasing new shares and debt obligations. About it writes Reuters.

At the same time, the loan amount Mask 117 million lower than in 2017. Then, his debt amounted to 624 million dollars.

Musk, who owns 20% of Tesla for years taken personal loans. Now he has three banks: Goldman Sachs Group ($213 million), Morgan Stanley ($209 million) and Bank of America Corp ($85 million).

These loans are supported by the stock Mask in Tesla, now worth about $8 billion, If Tesla stock is reduced, then, according to the company, the Mask will have to sell some of these shares in accordance with the terms of the loan.

Before that, Elon Musk has left a post of Chairman of the Board of Directors of Tesla, but remained as an Executive Director. On 8 November it became known that the new Chairman of the Board of Directors was Robyn Denholm’s, who previously worked in the largest Australian telecommunications company Telstra.

The exception is Elon musk with Tesla’s Board of Directors is a formality, because the Affairs of the company to the present day is it. He needed over three years to “keep your mouth shut” to the 2021 securities then log back on to the Board of Directors of the company.

Now Elon Musk can’t just make a post on his page in the social network. The agreement, which is awaiting the decision of a Federal judge, provides that Musk must “obtain prior approval of any experienced lawyer securities”, hired Tesla, before you post to Twitter or other social network anything relating to the financial performance of the company.

Recall, there were shots of the historic rocket launch Elon musk.

As reported Politeka, Elon Musk completes one of the most powerful development: “human connect to computer”.

Also Politeka wrote that Elon Musk has released his first song was inspired by a dead gorilla.